Secretary of State for International Trade Anne-Marie Trevelyan said:ĬPTPP is one of the largest and most exciting free-trading clubs in the world. Moving to the final stage of the accession process is a key milestone towards acceding to CPTPP and means the UK has demonstrated to members of the partnership that we are a high-standards, fair trading economy. The announcement comes ahead of Anne-Marie Trevelyan’s visit to Indonesia, Japan and Singapore next week to oversee the launch of the final accession stage and deepen trade ties throughout the Indo-Pacific region.
ADVANTAGES OF TRADING BLOCS FREE
The UK has today reached a major milestone to join what the International Trade Secretary has hailed ‘one of the largest and most exciting free-trading clubs in the world’.Ĭonfirmation from the Japanese government, as Chair of the UK’s Accession Working Group on behalf of the CPTPP members, in the early hours of this morning means the UK has moved into the second ‘market access’ phase of negotiations with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a free trade area worth £8.4 trillion in GDP. Trans-Pacific Partnership trade bloc contains some of the world’s most dynamic economies and demonstrates the value of UK’s future-facing trade strategy.
International Trade Secretary travels to Asia to visit Indonesia, Japan & Singapore to strengthen Indo-Pacific trade ties and oversee launch of final phase of negotiations.Announcement by Japan as Chair of the UK’s Accession Working Group on behalf of the CPTPP members this morning confirms UK’s move into second and final phase of accession to join £8.4 trillion CPTPP free trade area.
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